Search results
Results from the WOW.Com Content Network
In trust law, an asset-protection trust is any form of trust which provides for funds to be held on a discretionary basis. Such trusts are set up in an attempt to avoid or mitigate the effects of taxation, divorce and bankruptcy on the beneficiary. Such trusts are therefore frequently proscribed or limited in their effects by governments and ...
The death penalty is sought in only a fraction of murder cases, and it is often doled out capriciously. The National Academy of Sciences concludes that its role as a deterrent is ambiguous.
Here are the pros, cons of this approach. ... this loophole could allow some individuals to avoid taxes in perpetuity. “Basically it's invest, borrow against it and die, put it into a trust and ...
Put it into a trust and then pass it on to your kids,” he explained. Indeed, this strategy allows the wealthy to leverage their assets while avoiding immediate tax liabilities.
A dynasty trust is a trust designed to avoid or minimize estate taxes being applied to family wealth with each subsequent generation. [1] By holding assets in trust and making well-defined (or even no) distributions to beneficiaries at each generation, the assets of the trust are not subject to estate, gift or generation-skipping transfer tax (GST) taxes.
The term "grantor trust" also has a special meaning in tax law. A grantor trust is defined under the Internal Revenue Code as one in which the federal income tax consequences of the trust's investment activities are entirely the responsibility of the grantor or another individual who has unfettered power to take out all the assets. [20]
Crummey trusts can be a useful estate planning tool for high-net-worth individuals who are hoping to minimize gift and estate taxes. The Crummey power confers the right to withdraw assets from the ...
For example, a bequest in a will may be to one's grandchildren, often with a life interest to one's surviving spouse and then to the children, to avoid the payment of multiple death duties or inheritance taxes on the testator's estate. The rule against perpetuities was one of the devices developed to at least limit this tax avoidance strategy.